Elon Musk’s DOGE will upgrade with Vitalik Buterin!
Claim: Elon Musk’s DOGE will raise with Vitalik Buterin!
As a result, the Dogecoin price is skyrocketing. Dogecoin is currently changing hands at $0.08761, up 8.46% in the last 24 hours and about 2.4% in the previous seven days.
DOGE One-day price chart. Source: Finbold
Interestingly, DOGE’s price rose slightly from $10.9 billion to $12.07 billion in market cap, over $1 billion in just over an hour.
DOGE One-day market cap chart. Source: CoinMarketCap
The rise in DOGE price came after crypto podcast host and influencer David Gokhshtein told his 700,000 followers that he believes Ethereum co-founder Vitalik Buterin and Twitter CEO Elon Musk will start working together soon to develop Dogecoin in a tweet on November 25. came.
I feel that we’ll all see Vitalik and Elon working together to somehow upgrade $DOGE.
— David Gokhshtein (@davidgokhshtein) November 25, 2022
In September 2021, Buterin reported that DOGE said that he should consider switching to Proof-of-Stake (PoS) and that Ethereum code could easily be used for this transition.
The move to Proof-of-Stake is also highlighted in the Trace Map for Dogecoin. Vitalik not only has the right to generate such ideas in his capacity as the observer and founder of Ethereum, but also in his capacity as a member of the Dogecoin Foundation, which he joined in 2021.
Earlier in February this year, Buterin confirmed that Dogecoin is helping with the Proof-of-Stake transition. The Ethereum co-founder referred to a proposal released at Christmas last year outlining its strategy for executing the DOGE proposal for a ‘Community Staking’ version of PoS that will allow more people to participate in the governance of the Dogecoin network.
“They recently released something, the Dogecoin Foundation in collaboration with Vitalik Buterin to build community staking, released last year at Christmas.”
Will Dogecoin continue to rise?
With the price of DOGE soaring, crypto trading expert Altcoin Sherpa tweeted that the meme coin is unlikely to continue climbing:
“DOGE: Probe carried over due to some Elon news. Don’t really think this will be a sustainable pump given market conditions; it could possibly be shorted around $0.09.”
Shorten the DOGE table. Source: Altcoin Sherpa
Dogecoin’s ability to keep up the pump is very dubious given the current market conditions and the fact that it’s already starting to bounce back, but that won’t stop DOGE investors from keeping a close eye on its notifications in the meantime.
Disclaimer: The content on this site should not be considered as investment advice. Investment is speculative. When investing, your capital is at risk.